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Importance of a Growth Mindset

Updated: Mar 25, 2021



When we take a look at all the successful businesses of today such as Microsoft or Amazon, it is hard for us to imagine that they too started as a small business. Many big corporations of today even started in garages. What makes small businesses grow is not just good products or services, but rather the growth mindset of their leaders. Believing that you can do something is the first step to actually achieving it. Remember that nobody achieves anything whole sulking in the corner of their room.

Growth mindset defined


As according to a 2020 paper by Florina Cristina Schiopu, a growth mindset is the belief that someone can get better at something through a combination of dedication, time ,effort and energy. People with this kind of mindset are also more likely to overcome challenges and setback as they are more open to them. They seek feedback and inspiration from other people because they know that these can help them grow.


On the other hand, a fixed mindset is the belief that you can never grow out of something. That you are stuck where you are forever and that no amount of hardwork and dedication is going to make you better. People with this kind of mindset tend to give up easily in the face of challenges no matter their actual capabilities.


Hence from these definitions, which would you rather have? We’re sure that you would also rather have and develop the former which is the growth mindset.


Business Application


When it comes to business, you can encounter a lot of people with this kind of minset. Indeed, it is virtually impossible to succeed in any kind of enterprise if you do not have this kind of mindset. We are bombarded by many challenges and obstacle each day and how we react to them determines whether we overcome them or not.

Imagine if Mark Zuckerberg gave up his ambition of establishing a website for his college peers simply because somebody told him that he wouldn’t make it. That’s how much is at stake when it comes to our mindset. We could end up losing out on a lot of opportunities!


Hence, here are some way to manifest a growth mindset for your business:

Grab every opportunity to learn 


Don’t spend your time simply sitting idly! Find a book or online course to gain new knowledge whenever you can. You can even attend some free online seminars that can give you new knowledge and connection. These will always come in handy in the future. Remember that you are an investment for yourself. The more you grow as an individual, the more your business prospers as you can offer a wider variety of skills.

Learn from mistakes


As they say, experience is the best teacher. No amount of online courses or seminars can give you a prediction of the future, but you can always mitigate the damage that it causes. However, when mistakes are inevitable, don’t take it too seriously and end up in a spiral of despair! Instead, take it as a learning opportunity to prevent similar things from happening in the future. You can take a thorough look at how such a mistake occurred and what are the things that you could have done, and how you can prevent it from happening again. This is an example of a person who has a growth mindset.


Remember that your mindset is one of the most important things that you have as a business owner. It is also one of the few vital things that you actually have a control of. We can’t control the market demand, nor can we control what kind or how many clients that we will get, but we can always control the way that we think.

When to outsource


When you know that you can leave menial tasks that take too much time in somebody else’s hands, why don’t you consider hiring a virtual assistant? They are not only cheaper than hiring a new employee, but you also get exactly the kind of business that you pay for. Outsourcing secretarial or administrative tasks is a great way to get your more free time that can be spent on improving yourself and developing your growth mindset.


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